Required information[The following information applies to the questions displayed below.]C. W. McCall sells a goldplated souvenir mug; McCall expects to sell 1,600 units for $45 each to earn a $25 contributionmargin per unit. Janice McCall, president, expects the year's total market to be 32,000 units. For the year just completed,the local college won the national hockey championship, and as a result, the total actual market was 100,000 units. C. W.McCall sold 3,000 units and calculates sales variances using contribution margin.What is the firm's market share variance?Market share variance

Market share variance: = Actual Market Sales Quantity x (Budgeted Market Share % - Actual Market…

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please provide explanations to answers.
C. W. McCall sells a goldplated souvenir mug; McCall expects to sell 1,400 units for $35 each to earn a $15 contribution margin per unit. Janice McCall, president, expects the year’s total market to be 35,000 units. For the year just completed, the local college won the national hockey championship, and as a result, the total actual market was 150,000 units. C. W. McCall sold 3,000 units and calculates sales variances using contribution margin. What is the firm’s sales volume variance?

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